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BEIJING (MNI) - The following lists highlights from Chinese press reports
The PBOC will continue to strengthen counter-cyclical adjustment and
increase credit support to the real economy as it seeks to stabilize economic
growth, PBOC governor Yi Gang said at a meeting on Tuesday. In comments reported
on the PBOC website, Yi said the central bank would also guide real lending
interest rates lower and promote the replenishment of bank capital.
China's housing market continues to cool and the supply of commercial stock
may exceed demand in 2020, the Economic Information Daily reports. Citing data
from the Shanghai E-House Real Estate Research Institute, the Daily's report
says that in addition to increased inventories at third and fourth-tier cities,
Beijing also has 72,800 sets of unsold houses, the highest in eight years.
The new five-year Loan Prime Rate (LPR), which was cut by 5bps to 4.80%
today, could stimulate demand for home purchases, according to a report by
Cailian Press. Citing Yan Yuejin, the director of the E-House Real Estate
Research Institute, the Cailian report says the five-year LPR acts as a
reference for medium and long-term loans which are mainly personal mortgage
loans. The LPR cut, Yan said, could therefore help in reducing the cost of
buying a house.
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